Bursa Malaysia ends lower on losses in key heavyweights

KUALA LUMPUR, Feb 22 — Bursa Malaysia ended lower today on losses in key heavyweights as investors turned slightly more cautious amidst ongoing trade discussions between China and the United States.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 9.26 points to end at 1,721.42 against Thursday’s close of 1,730.68.

After opening 0.17 point lower at 1,730.51 today, the FBM KLCI moved between 1,716.17 and 1,732.27 throughout the day.

A dealer said cautious sentiment clouded the market as investors had their fear levels heightened nearing the March 1 deadline for a positive conclusion to the trade talks.

“Investors’ focus on the talks has sharpened as the deadline is just around the corner, when US tariffs on US$200 billion of Chinese imports would jump to 25 per cent from 10 per cent currently, unless the world’s two largest economies reach an agreement,” he added.

Among local heavyweights, Maybank rose one sen to RM9.54, while Public Bank and Petronas Chemicals eased two sen each to RM24.98 and RM9.03 and Tenaga lost six sen to RM13.44.

Of actives, Sapura Energy was one sen easier at 31.5 sen, Iskandar Waterfront was four sen better at 63 sen and AirAsia X declined three sen to 26 sen.

Market breadth was negative with 611 losers to 290 gainers, while 371 counters remained unchanged, 595 untraded and 20 others suspended.

Total volume declined to 2.66 billion units valued at RM2.33 billion from 3.71 billion units valued at RM3 billion transacted yesterday.

The FBM Emas Index decreased 81.43 points to 12,002.50, the FBMT 100 Index fell 79.59 points to 11,858.88 and the FBM Emas Shariah Index lost 109.47 points to 11,953.11.

The FBM 70 was 161.76 points lower at 14,415.46 and the FBM Ace Index decreased 55.72 points to 4,715.48.

Sector-wise, the Financial Services Index lost 12.68 points to 17,840.72, the Plantation Index fell 26.65 points to 7,413.10 and the Industrial Products and Services Index eased 0.43 of-a-point to 168.03.

Main Market volume was lower at 1.83 billion shares valued at RM2.13 billion from 2.54 billion shares valued at RM2.73 billion on Thursday.

Warrants’ turnover fell to 567.94 million units worth RM133.29 million from 699.79 million units worth RM161.72 million.

Volume on the ACE Market decreased to 264.44 million shares worth RM65.31 million from 463.53 million shares worth RM100 million.

Consumer products and services accounted for 282.86 million shares traded on the Main Market, industrial products and services (285.29 million), construction (215.90 million), technology (184.56 million), SPAC (nil), financial services (55.61 million), property (175.62 million), plantations (26.19 million), REITs (5.17 million), closed/fund (6,000), energy (468.25 million), healthcare (55.79 million), telecommunications and media (35.57 million), transportation and logistics (19.53 million) and utilities (23.11 million). — Bernama